What's the difference between planning an exit and actually being ready to execute one?

Planning an exit is deciding on a direction and starting to prepare for it; being ready to execute is having the business, your finances, and your paperwork in a state where a sale could actually close if the right buyer appeared tomorrow. Many owners have done the first without realizing they haven't done the second — they know they want to sell in a few years, but their corporate records are disorganized, key contracts are unsigned or expired, or they haven't thought through how a sale would be taxed personally.

The gap between the two usually shows up at the worst possible time: when a serious buyer appears and due diligence starts, and things that seemed like minor housekeeping suddenly become obstacles to closing on schedule. That's the practical difference — planning is largely reversible and low-pressure, while being unready when a real offer arrives can cost you money or leverage in the negotiation.

Closing that gap doesn't require finishing everything at once. Working through corporate records, contracts, and financials with a business lawyer and accountant on your own timeline, before a buyer is in the picture, is what actually turns a plan into readiness.